CMPM Questions with complete solution 2024/2025 CMPM
Construction Contract - correct answer A ___________________________ provides a written legal binding agreement, for both the owner and the builder, that the executed job will receive the specific amount of compensation or how the compensat...
CMPM
Construction Contract - correct answer ✔A
___________________________ provides a written legal binding agreement,
for both the owner and the builder, that the executed job will receive the
specific amount of compensation or how the compensation will be distributed
AGREEMENT - correct answer ✔The document that formalizes the
construction contract and is the basic contract.
GENERAL CONDITIONS - correct answer ✔The portion of the contract
document in which the rights and responsibilities of the involved parties are
itemized.
SUPPLEMENTARY CONDITION - correct answer ✔A portion of a contract
documents that supplements, modifies, changes, adds to, or delete from
provisions stated in the general conditions.
DRAWINGS - correct answer ✔The actual plans from which the project is to
be built.
ADDENDA - correct answer ✔The document that modifies the basic contract
documents after it has been issued to the bidder, but prior to the taking of bids
Price Given in Advance Contracts (Price-based Contracts)
Cost Reimbursement Contracts (Cost-based Contracts) - correct answer
✔TYPES OF CONSTRUCTION CONTRACTS
Lump- Sum Contract - correct answer ✔Contractor agrees to perform job of
work for a fixed sum of money.
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